Market Information Friday 30 May 2025

Federal Reserve Chairman Jerome Powell met with President Donald Trump at the White House on Thursday. During the meeting, Powell emphasized the central bank’s independence. They discussed economic developments such as growth, employment, and inflation, but Powell did not comment on monetary policy expectations. He reiterated that future policy decisions will be based on incoming economic data. Powell assured Trump that the Fed follows the law and bases its decisions solely on careful, objective, and non-political analysis.

Pending home sales in the U.S. fell sharply in April, with the index dropping 6.3% from the previous month to 71.3, according to the National Association of Realtors. Economists had expected only a 1.0% decline. The index is now well below the historical average of 100. Compared to April last year, pending sales dropped 2.5%. The index tracks signed contracts for existing homes, but the sales have not yet been finalized.

U.S. crude oil inventories fell by 2.8 million barrels last week, much more than the expected 0.6 million, reaching 440.4 million barrels, according to the EIA. Gasoline inventories also dropped sharply by 2.4 million barrels to 223.1 million, compared to an expected 0.3 million decline. Heating oil and diesel inventories fell by 0.7 million barrels. Refinery capacity utilization decreased from 90.7% to 90.2%, lower than the expected 91.5%.

The 6M Euribor is unchanged at 2.04% compared to previous business day. The 10Y Swap decreased with 3 basis points to 2.50% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.